All Forum Posts by: Brent Lenderman

Thank you for your response. I have also looked at the foreclosure auctions in Arapahoe County. At the auctions I have attended, there may only be a handful of houses for bid with numerous bidders. And the bidders seem to bid the houses up to where the deal is questionable. Is there a way to acquire real estate in South Denver or Centennial at a discount or is the market in our area currently a lost cause? I want to expand my rental portfolio but I don't want to pay too much. Everything I read indicates that profit is typically made at the purchase rather than the sale of a property. That is why I am fixated on price.

I want to implement the BRRRR strategy in Centennial/South Denver/Littleton and buy properties from distressed sellers at 30% below retail less repair costs. Is this a realistic expectation in our current Denver market? I want to send mailers to a certain neighborhood near where I live in Centennial but I am wondering if it will be an exercise in futility. I am planning to offer cash and a quick close, but it seems like anyone with some allowance for time can get a better deal. Are there any distressed sellers in this market? Should I shoot for 20% below retail?

I want to make offers on distressed properties and am figuring out what I can tell the seller in terms of the time frame. I want to offer a quick close and cash, but I am wondering how to fit an inspection in the time frame if I am going for a week or 10 days to close. If I am attempting to purchase properties at 30% below retail less repair costs would I have enough cushion to forego a formal inspection? The South Denver/Centennial area is where I would like to focus and there doesn't seem to be too many problems with real estate in this area e.g. termites, soil movement etc. Would I be relatively safe looking for issues on my own such as leaky roofs (stained ceilings), foundation cracks, drywall cracks, and poorly executed remodeling? Or should I make a judgement call on scheduling an inspection after my own inspection? Is a week or 10 days a realistic goal to close? Incidentally, I also have a real estate license. 

Brent